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The three day trading seminar is really a three day canned sales pitch with high pressure sales tactics to get you to sign up for VERY expensive classes.
Day One: Expect a fifteen minute overview of basic stock trading information, thity minute presentation on how great online trading academy is and then a fifteen minute break. During the break "your coach" will pull you aside and chat with you before the real reason he is there. Your "Coach" is not a trader but a Sales Closer who is actually sizing you up as a prospect by asking you personal information like where you work, how much do you make, how is your credit and how much you invest etc.
Day Two: Half the class was smarter than myself and did not return for day 2. Its a repeat of day 1 except they turn up the sales pressure and sales pitch. There are less prospects " students " so there are more meetings with your designated coach. The longer you hold out the more intense the sales pressure.
Day Three: The third day is a waste of time they just play videos to scare everyone then break where they can continue to take anyone that is holding out into more coaching/sales conversations. Its on this third day that the pressure is on to close the remaining people.
The best part is ...the longer you hold out
1. lower the price gets.
2.lower the interest rate gets
3.Throw in freebies
4.bring in a guest to share a terminal
1 Updates & Rebuttals
Miz G
Pewaukee,Wisconsin,
Expected Much Less, Got A Lot More
#2Consumer Comment
Sun, February 15, 2015
I just took one of OTA's free 3 hour workshops on Feb. 7th and went in expecting it to be pure sales pitch all the way. It wasn't. The classroom was full--in fact, they had to bring chairs in from another room to accommodate everybody.
One of the first things they did was write on the white board how much the average student pays for their courses. It was $22,000. So they got that out of the way immediately. Everybody hung around.
We got, in my opinion, pure information during that 3 hours. Yes, there were moments when the speaker (who stated he owned that particular franchise) would say things such as "we go into depth on this in our courses". But we got what I consider to be Trading 101 info during the workshop that did get me thinking and wanting to learn more.
Most of the people in the room with me knew far more about stocks and trading than I did. The majority had 'portfolios' and were familiar with many of the terms that were being tossed around that morning. At break, I asked one of the agents whether they throw "green recruits" such as myself in with people who already have good knowledge of trading he said "yes, but we actually prefer to train people like yourself because you're a blank slate--we don't have to break any habits or preconceived ideas." He also said they begin at Ground Zero with training so everybody is trained as if they have no knowledge of the subject.
Pretty straight forward so far.
Nobody was "corralled" during our break but people made themselve available if anybody wanted to approach them, ask questoins, or simply chat. We did get 3 CD-ROM's to watch and study as a gift for participating in the workshop. And I did sign up for the 3-day $299 course. We've been encouraged to bring another person along, free of charge--preferably a spouse or another person who may have reservations about having us take these classes. (They want to make sure everybody's comfortable spending the money)
We'll see whether there's an attitude shift and the pressure tactics begin. But I have, so far, not experienced the high pressure stuff others have.
I do believe these locations are all franchised so there may be some owners who advocate high pressure tactics. I personally wouldn't go back to a place like that either. So far, Wisconsin's OTA's seem good to me.